The payday loan process

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Payday loan (also called a paycheck advance or payday advance) is a small, short-term loan that is intended to cover a borrower's expenses until his or her next payday. Typical loans are between $100 and $500 and are due in two weeks, with interest rates of up to 400% APR. On a two-week loan, fees average $15 for each $100 lent.[1] The loans are also sometimes referred to as cash advances, though that term can also refer to cash provided against a prearranged line of credit such as a credit card.Loan Quick Payday Oakland Payday Loan 42 Payday Loan Advertisers Personal Loan Paydayloanpagescom Payday Loan Interest No Fax Payday Loan Cash Payday Loan Easy Loan Payday 20 Payday Loan Savings Accoun Instant Payday Loan Argos Indiana Payday Loan Interest American Advance Instant Online Payday Loans Payday Easy Loan Qualify 3,000 Payday Loans Georgetown Payday Loan Day Fax Payday Loans Faxless Loan Payday Until Cheap Payday Loan North Highlands California Georgetown Payday Loan Payday Loan Advertisers Personal Loan Paydayloanpagescom Non Payday Cash Advances Georgetown Payday Loan Fast Payday Loan Roper Kansas 1500.00 Payday Cash Advances Day Payday Loans Payday Loan Interest Payday Loan Interest Payday Loan Savings Accoun 1500.00 Payday Cash Advances 12 Boston Payday Loan 18 Payday Loan No Credit Though payday lending is primarily regulated at the state level, the United States Congress passed a law in October 2006 becoming effective on Oct. 1, 2007 that caps lending to military personnel at 36% APR as defined by the Secretary of Defense.[2] The Defense Department called payday lending practices "predatory", and military officers cited concerns that payday lending ruined low-paid enlisted men and women's finances, jeopardized their security clearances, and even interfered with deployment schedules to Iraq.[3] Actual statistics[citation needed] showed that fewer than 5% of military enlisted personnel were payday-loan borrowers, however.Some federal banking regulators and legislators seek to restrict or prohibit the loans not just for military personnel, but for all borrowers,[4] because the high costs are viewed as a financial drain on the working and lower-middle class populations who are the primary borrowers.